PITTSBURGH -- The five Rooney brothers who collectively own 80 percent of the Pittsburgh Steelers are still working on an offer to sell majority ownership to Dan Rooney, and more details are being learned about the deal.

Video: Rooneys Making Progress On Sale

Early Monday afternoon, brothers John, Tim and Art Rooney Jr. emerged from a meeting at Heinz Field to say that progress had been made but the deal was not done yet.

"They worked very well, and as I say, it was a congenial meeting," said Dan Rooney, the oldest of the five brothers. "You know, we had a few disagreements once in a while along the way, but that's normal, especially with Irish."

The deal apparently calls for Tim Rooney to sell his entire share. He also owns a racetrack that allows gambling, which is against NFL rules.

"If everything goes as we expect it to go, I would be getting out completely," Tim Rooney said. "You know, I have more of a conflict than the other people. Running a racetrack, you know."

Meanwhile, John Rooney said he will probably keep some interest in the team "because Dan asked me, so I'm staying in because of that. I'm not staying in forever. I'm old."

The Rooneys said they'll meet again to finalize the details. They didn't say where or when that would happen, but they want it to be done in time to present the sale for approval at a Dec. 17 meeting of NFL owners in Dallas.

"I think this is an important thing for everybody, for the city of Pittsburgh," Dan Rooney said. "You know, my goal at the beginning was, I just wanted to keep this franchise in the name of my father -- the Rooneys, the Rooney family -- that he started in 1933. You know, I think that's an important thing."

"We're just happy that would be the case," Tim Rooney said. "It would be a shame if it was any other way."

The deal could pay Tim, Pat, John and Art Rooney Jr. as much as $750 million, with $280 million coming from bank loans and the rest from partners to be named by Dan Rooney, according to WTAE Channel 4's news exchange partner, the Pittsburgh Tribune-Review.

The four brothers who are selling want to do so before President-elect Barack Obama takes office and increases the capital gains tax.

"It is a group that works well together. I don't detect any personal issues," said Rooney cousin Jack McGinley Jr. "Everybody is trying to work together and protect one another's interests."

Each of the five Rooney brothers holds a 16 percent interest in the team. The McGinley family controls the remaining 20 percent.

The current ownership arrangement is in violation of NFL guidelines, which require one person to hold at least 30 percent of a team.

The Rooney family has owned the Steelers franchise since its inception, except for a brief period in 1941 when Art Sr. sold the team to Alexis Thompson and bought into the Philadelphia Eagles. Rooney regained control of his hometown Steelers in less than a year.

The team has an estimated worth of $800 million to $1.2 billion. Art Rooney Sr. bought it in 1933 for $2,500.

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